A Financial Times Service
China Confidential - Premium Investment Insight
13 August 2012

The renminbi has recently traded at its lowest levels in the onshore forwards market since March 2011. This is the result of aggressive US dollar buying by Chinese corporates, who have been desperate to cover the ‘short US dollar’ positions they had built up over the past year. Last week, one-year US dollar/renminbi forwards had tumbled to Rmb6.4815 - its lowest level this year - as Chinese corporates scrambled for US dollar liquidity (see chart). 

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CHINA CONFIDENTIAL

An integrated research service from the Financial Times that provides premium, exclusive analysis and predictions on China investment themes.

Using a dedicated FT team of specialists in China and the UK, it taps Chinese sources from the grassroots to the political elite to forecast key trends and issues. It conducts proprietary research to supply its own insights into industry trends and consumer sentiment. By filtering the work of the best Chinese analysts and academics, it keeps you current on key debates as they unfold inside mainland China. Its broad aim is to help the professional investor navigate through the Chinese investment landscape.

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